Venezuelan state oil company PDVSA is
seeking to issue up to $4.7 billion in debt securities to settle unpaid bills
to contractors, according to a document seen by Reuters, as the cash-strapped
firm scrambles to cope with low oil prices. The proposal signals PDVSA's increasing
reliance on complex financial engineering to make ends meet after a slump in
crude output and a severely depressed economy left it struggling to tap cheaper
and more traditional forms of credit. More… 
Friday, October 7, 2016
PDVSA eyes $4.7 billion debt issue to pay service companies
Venezuelan state oil company PDVSA is
seeking to issue up to $4.7 billion in debt securities to settle unpaid bills
to contractors, according to a document seen by Reuters, as the cash-strapped
firm scrambles to cope with low oil prices. The proposal signals PDVSA's increasing
reliance on complex financial engineering to make ends meet after a slump in
crude output and a severely depressed economy left it struggling to tap cheaper
and more traditional forms of credit. More… 
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment